David Zucker has resigned from his position as CEO of videogame publisher Midway.
The company is now in search of a new CEO, according to an MCV report. Midway’s Senior Vice President of Worldwide Studios Matthew Booty has stepped in to serve as interim CEO until a permanent replacement can be found. Specific reasons for Zucker’s departure were not given, but his tenure at Midway has been troubled, with the company’s most recent year-end financial results indicating an overall loss in fiscal 2007 of nearly $100 million. Midway had lost almost $78 million in the previous fiscal.
Commenting on the search for Zucker’s replacement, Midway Chairman Shari Redstone said, “The board is confident that a new CEO will be selected who can fully utilize the opportunities presented by this next-generation console cycle to renew Midway’s position as a major player in the videogame industry.”
Published: Mar 20, 2008 03:56 pm